14 Chatsworth Road, Homerton, London E5 0LP

SUMMARY

* Opportunity to acquire a freehold shop and uppers with significant reversionary and value add potential comprising a commercial unit, 6 studio units and a basement flat.

LOCATION

* The property is situated on Chatsworth Road, Homerton is a vibrant and evolving pocket of East London, positioned between Hackney Central and Victoria Park. The area has seen significant regeneration in recent years, attracting a wave of young professionals, creatives, and independent businesses, making it an increasingly sought-after location for both investors and occupiers.

* The property is approximately a 10-minute walk to Homerton Overground Station which offers regular services to Highbury & Islington Station in roughly 13 minutes.

DESCRIPTION

* The site extends to 0.04 acres.

* The building is arranged across four storeys (Basement - Second) and provides an occupied commercial unit, six self-contained studios on the (G-2nd) extending to approximately 1,120 SqFt (NIA) and a 2-bedroom flat in the basement with a large courtyard extending to approximately 452 SqFt (NIA).

* The commercial unit is currently let to 'Vintage Bottle' on a 20-year FRI lease from 2022 at £14,000 p.a. rising with a rent review coming up in 2027, secured on the ground and basement retail premises.

* The six studios are all self-contained and tenanted on a monthly rolling basis generating £91,609.88 p.a.

* The six self-contained studios offering reversionary potential to achieve c.£103,400 p.a. based on current LHA rates, with further uplift achievable through refurbishment and letting to private tenants.

* The 2-bedroom basement unit is currently tenanted achieving £21,600 p.a.

* The entire property is currently producing £127,210 p.a.

* We have been advised that the operational costs amount to approximately £1,500 p.a.

* Certificate of Lawful Development Existing/Proposed was granted on 30th August 2016 for "Existing use of parts of building as six residential units (C3 use class) (one at ground floor level to rear of shop; three at first floor level and two at second floor level)" (Planning Ref. 2016/2522)

TERMS

* The property is not elected for VAT.

* The property is available freehold.